BTC price 4-hour chart | The source : TradingView
Bitcoin worries traders on Saturday. Data from TradingView suggests its fate will be decided by the $ 60,000 support level.
This level is the first major area of interest to buyers after the old ATH at $ 64,900 failed to sustain the market in the long run.
While analysts remain bullish for longer periods, the downtrend keeps everyone curious about the current week’s closing candle.
https://twitter.com/rektcapital/status/1451602018225819657?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener“Last week, BTC closed above an important historical resistance area (red) on a weekly basis. This week, BTC could fall in the same range but to turn it into a support. Could test every week soon. “
For the analyst Michaël van de Poppe, however adjust is “good” and still predicts a macro price of $ 300,000.
On the other hand, a lot of people are posing hypothesis Traders who use too much leverage will “exit”, which has driven funding rates to normally unsustainable levels during a rally to a new ATH of $ 67,100.
In addition, the first US Bitcoin Exchange Traded Fund (ETF) is still a hotly contested topic, as the popular Twitter account BitBit notes.
“In exactly three months before the ETF was approved, about $ 1.25 trillion was pumped into the market. Now are you telling me the giants don’t have this information before you can guess it? “
The source: Twitter
While overall foreign exchange balances continue to trend lower, Binance’s reserves have risen significantly in the past few days.
According to data from statistics source Bybt, that number rose by more than 50,000 BTC to almost 400,000 BTC on Friday.
Bitcoin balance Binance | The source: Bybt
An increase in foreign exchange reserves usually means a desire to sell or short-term availability of BTC for sale.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Minh Anh
According to Cointelegraph
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…
Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…
Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…
Discover the success story of a New York tech entrepreneur who made $72M from a…
Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…
With the platform facing a cracked whip, Trump Media company is expanding into new business…
This website uses cookies.